Stocks powered to records Friday after a surprisingly strong jobs report gave reassurance that the economy is still solid, despite the pain U.S. factories are feeling from President Donald Trump’s trade war. The economic reports solidified Wall Street’s view that the economy is nestled in a sweet spot for markets, where the Federal Reserve will likely hold interest rates at their low level.
The S&P 500 and Nasdaq composite both closed at all-time highs.
The S&P 500 index rose 29.35 points, or 1%, to 3,066.91.
The Dow Jones Industrial Average gained 301.13, or 1.1%, to 27,347.36.
The Nasdaq gained 94.04, or 1.1%, to 8,386.40.
The Russell 2000 index of smaller companies rose 26.88, or 1.7%, to 1,589.33.
For the week:
The S&P 500 is up 44.36 points, or 1.5%.
The Dow is up 389.30 points, or 1.4%.
The Nasdaq is up 143.28 points, or 1.7%.
The Russell 2000 is up 30.62 points, or 2%.
For the year:
The S&P 500 is up 560.06 points, or 22.3%.
The Dow is up 4,019.90 points, or 17.2%.
The Nasdaq is up 1,751.12 points, or 26.4%.
The Russell 2000 is up 240.77 points, or 17.9%.
The Associated Press